Quantcast

Tag: loan

Mortgage Rates: The Obtainium Economy

Mortgage Rates: The Obtainium Economy

Mortgage rates and obtainium have a lot in common, something great for borrowers who prefer smaller monthly payments. Let me explain. There was a special trash pick-up on Saturday morning in our part of Pensacola. You could put big stuff in front of your house and a huge city truck would come by and scoop […]

Posted in: News
Is Mortgage Shopping Too Quick?

Is Mortgage Shopping Too Quick?

Has mortgage shopping become too quick and easy? Or, are speedy mortgages a good thing, evidence that automated loan services are a growing success, making it easier to get financing with fewer hassles? “On average,” reports Zillow, in a just-released study, “Americans spend just eight hours researching their home loan, and obtain just four quotes […]

Posted in: News
Mortgages: Why The 1 Percent Sometimes Get A Loan

Mortgages: Why The 1 Percent Sometimes Get A Loan

According to the National Association of Realtors the typical existing home sold for $228,700 in August, a curious figure given that a large percentage of all mortgages are substantially larger. Even if we consider new homes, which now have a typical sale price of $292,700, lots of Americans are still in the market for very […]

Posted in: News
Fast Refinancing After A Short Sale — Here’s How

Fast Refinancing After A Short Sale — Here’s How

Question: We did a short sale on our home in May 2012. We then bought a house with cash in Oct 2012. Can we get a fast refinancing on our current home? Answer: A short-sale is a situation where a home has been sold for less than the mortgage debt, meaning the lender has taken […]

Posted in: News
How Buffers Limit Your Mortgage Borrowing

How Buffers Limit Your Mortgage Borrowing

Question: We have recently tried to qualify for a mortgage. We know that the new rules allow us to devote as much as 43 percent of our income to housing costs and monthly debts. However, the lender says if our monthly debts exceed 41 percent of our income that it will not give us a […]

Posted in: News
Why The Mortgage APR Is Too Low
By September 29, 2014 1 Comments Read More →

Why The Mortgage APR Is Too Low

The mortgage APR is generally higher than the nominal interest rate but is it high enough? The answer is “no” and here’s why: One way to look at the APR — the annual percentage rate — is to have an interest level of 4.2 percent and points and fees of $5,000. In this situation — […]

Posted in: News
Mortgage Rates: Why Are Zero-Zero Loan Quotes Missing?

Mortgage Rates: Why Are Zero-Zero Loan Quotes Missing?

Whatever happened to zero-zero mortgage quotes? Two years ago the government said lenders needed to change their ways and proposed four adjustments. The result was that three of the proposals were approved and one fell by the wayside. Three out of four is pretty good in Washington, but would it surprise anyone that the missing […]

Posted in: News
Real Estate: How Down Payment Gifts Really Work

Real Estate: How Down Payment Gifts Really Work

If coming up with a down payment on your own is a bit of a stretch, you may be able to buy a home using gift funds for the down payment. Gifts can be perfectly acceptable under the lending guidelines for most types of mortgage financing available today, but it’s super important that they are […]

Posted in: News
Why Subprime Mortgages Are Better Under Dodd-Frank

Why Subprime Mortgages Are Better Under Dodd-Frank

Subprime mortgages are coming back, slowly but surely. But while subprime loans remain an expensive form of financing there’s an argument to be made that today’s subprime mortgages are objectively better than the toxic loan products which were too common between 2000 and 2008. While it may come as a surprise, subprime loans are allowed […]

Posted in: News
Real Estate: 9.3 Million Homes Underwater, Says RealtyTrac

Real Estate: 9.3 Million Homes Underwater, Says RealtyTrac

Real estate owners are not out of the woods yet even as the stock market nears record highs and home values have increased at least 10 percent from 2012. A new home equity study from RealtyTrac shows a tale of two housing markets: One side are 9.3 million homeowners who are deeply in debt, individuals […]

Posted in: News